EX-99 2 ex99.txt Release Date: April 4, 2005 Contact: Craig A. Creaturo Chief Financial Officer and Treasurer (724) 352-4455 ccreaturo@ii-vi.com Homepage: www.ii-vi.com II-VI INCORPORATED, SEMISOUTH LABORATORIES, INC. AND MISSISSIPPI STATE UNIVERSITY PARTNER IN THE DEVELOPMENT OF SILICON CARBIDE PITTSBURGH, PA., April 4, 2005 -- II-VI Incorporated (NASDAQ NMS: IIVI) announced today that it is partnering with SemiSouth Laboratories, Inc. and Mississippi State University for the establishment of a Silicon Carbide (SiC) semiconductor substrate manufacturing facility in Starkville, Mississippi. This effort will focus on II-VI's production capabilities in SiC substrates along with an advanced SiC epitaxial material growth technology at SemiSouth. During this process, strong technical and operational support will be provided from II-VI's New Jersey-based Wide Bandgap Materials Group Technical Center and Headquarters where II-VI will strengthen its research and worldwide marketing. Earlier today, Carl J. Johnson, chairman and chief executive officer of II-VI Incorporated noted the following during a visit to Mississippi. "Our technology and manufacturing development teams in New Jersey and Pennsylvania have made considerable advancements in the growth of single crystal SiC materials. Anticipating continued success and market growth, we are now entering a new phase of our business as we prepare for the scale-up to high volume production. II-VI is looking forward to partnering with Mississippi State University and SemiSouth in this highly productive initiative." II-VI Incorporated also announced that it made an investment in SemiSouth. Terms of the transaction were not disclosed. Headquartered in Saxonburg, Pennsylvania, II-VI Incorporated designs, manufactures and markets optical and opto-electronic components, devices and materials for infrared, near-infrared, visible light, x-ray and gamma ray instrumentation. The Company's infrared optics business manufactures optical and opto-electronic components sold under the II-VI brand name and used primarily in CO2 lasers. The Company's near-infrared optics business manufactures near-infrared and visible light products for industrial, scientific, military and medical instruments and laser gain materials and products for solid-state YAG and YLF lasers at the Company's VLOC subsidiary. The Company's military infrared optics business manufactures infrared products for military applications under the Exotic Electro-Optics (EEO) brand name. In the Company's Compound Semiconductor Group, the eV PRODUCTS division manufactures and markets solid-state x-ray and gamma-ray sensor products and materials for use in medical, industrial, environmental, scientific and homeland security applications; the Company's Wide Bandgap Materials (WBG) group manufactures and markets single crystal silicon carbide substrates for use in the solid-state lighting, wireless infrastructure, RF electronics and power switching industries; Marlow Industries, Inc. designs and manufacturers thermoelectric cooling and power generation solutions for use in defense, space, photonics, telecommunications, medical, consumer and industrial markets. This press release contains forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and relate to the Company's performance on a going-forward basis. The forward-looking statements in this press release involve risks and uncertainties, which could cause actual results, performance or trends, including the above mentioned anticipated revenues and earnings, to differ materially from those expressed in the forward-looking statements herein or in previous disclosures. The Company believes that all forward-looking statements made by it have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections as expressed in the forward-looking statements will actually occur or prove to be correct. In addition to general industry and economic conditions, factors that could cause actual results to differ materially from those discussed in the forward-looking statements in this press release include, but are not limited to: (i) the Company's ability to successfully integrate Marlow's operations into the Company's organization and to realize synergies in material growth and utilization of our worldwide manufacturing and distribution networks (ii) the failure of any one or more of the assumptions stated above to prove to be correct; (iii) the risks relating to forward-looking statements and other "Risk Factors" discussed in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2004; (iv) purchasing patterns from customers and end-users; (v) timely release of new products, and acceptance of such new products by the market; (vi) the introduction of new products by competitors and other competitive responses; and/or (vii) the Company's ability to devise and execute strategies to respond to market conditions. CONTACT: Craig A. Creaturo, Chief Financial Officer and Treasurer of II- VI Incorporated, 724-352-4455, or e-mail, ccreaturo@ii-vi.com. # # # #